Scotiabank says to explore sale of CI Financial stake

TORONTO May 14 (Reuters) - Bank of Nova Scotia
said on Wednesday it will explore options to divest itself of
some or all of its 37 percent stake in asset manager CI
Financial "over time."

Canada's No. 3 bank, which acquired the CI stake from
insurer Sun Life Financial Inc in 2008, said in a
statement it would pursue partial or full monetization of the
investment "in one, or a series of transactions."

Scotiabank, which estimated the market value of the CI stake
at C$3.8 billion ($3.48 billion), said there were no assurances
that any transaction will be completed.